Pressure rising on Japanese to settle ’08 deals

Dec 12, 2007 | 10:35 AM | Sean Barry

Japanese copper smelters could come under more pressure to accept lower annual treatment and refining charges (TC/RCs) following reports of at least one Chinese smelter agreeing on 2008 terms with BHP Billiton at $47.20 per tonne/4.72 cents a pound.

Talks between BHP Billiton, majority owner of Minera Escondida Ltda. in Chile, the world's largest copper mine, and Japanese smelters ended in a stalemate last week as smelters battled to secure higher numbers following a recent run-up in spot TC/RCs.

While the first settlement with a Japanese smelter often sets the annual benchmark, a reported agreement between China's Tongling Nonferrous Metals Group International Trade Ltd. and BHP Billiton will put pressure on them to settle at around $47.20/4.72 cents, according to trade sources.....





Latest Pricing Trends

Poll

Is severe weather affecting your business?

Yes
No


View previous results

AMM Events